Bowman Consulting Acquires South Carolina Firm Dennis Corporation, Boosting Its Civil Infrastructure Offerings
Portfolio Pulse from Shivani Kumaresan
Bowman Consulting Group Ltd (NASDAQ:BWMN) has acquired Dennis Corporation, a civil engineering, surveying and construction management firm. The acquisition is expected to be immediately accretive and will operate at an annualized net service billing run rate of approximately $4.5 million. Bowman held $9.7 million in cash and equivalents as of June 30, 2023.
October 13, 2023 | 2:56 pm
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POSITIVE IMPACT
Bowman Consulting's acquisition of Dennis Corporation is expected to be immediately accretive and will boost its civil infrastructure offerings.
The acquisition of Dennis Corporation by Bowman Consulting is expected to be immediately accretive, indicating a positive impact on the company's financial performance. This could lead to a positive reaction in the stock market, hence the score of 1. The acquisition is directly related to Bowman, hence the relevance score of 100. The importance is high (80) as acquisitions can significantly affect a company's operations and financials. The confidence level is high (90) as the information is directly stated in the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100